Zinc prices rise more than 4% for best week since April as China cuts output

Zinc prices rose more than 4% this week, the best performance for the industrial metal since April as smelters in China cut output.

According to CNBC, zinc was trading at $2,884.65 per metric ton on Friday morning, August 23, up $27, or 0.96%.

Zinc is used in the galvanizing process to protect iron and steel from rust. It is also used in the electrical grid, helping protect solar panels and windmills.

Producers in China are moving to cut output due to reduced availability of raw materials and weak profits.

Beijing accounts for about half of the world’s refined zinc production.